Former Bookkeeper Soaks Chemical Company for Over $500K

Insurance Covers Most of the Documented Loss

Over the course of 13 years, the former bookkeeper for a Buffalo, NY area chemical company used company credit cards to make personal purchases and pad her paychecks.  She admitted that she felt she was underpaid and was only “correcting” her pay package.  Although she pleaded guilty to embezzling almost $500K, authorities and company officials feel the total is much higher but could not prove it due to missing records and inability to verify that many credit card charges were fraudulent.

The one bit of good news for the company was the fact that they had a crime policy.  The policy covered most of the documented loss and the perpetrator sold her house to cover the rest.

She has been sentenced to up to 5 years in prison.

The story appeared here.

Make Sure Your Clients Have the Right Controls in Place and the Right Insurance to Cover Their Crime-Related Needs

Call Berkley Crime today, we’ll help you and your clients get the right coverage, quickly.

Experts focused on your protection.
We deliver.

Products and services are provided by one or more insurance company subsidiaries of W. R. Berkley Corporation. Not all products and services are available in every jurisdiction, and the precise coverage afforded by any insurer is subject to the actual terms and conditions of the policies as issued. Certain coverages may be provided through surplus lines insurance company subsidiaries of W. R. Berkley Corporation through licensed surplus lines brokers. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds.

For additional information concerning W.R. Berkley Corporation’s insurance company subsidiaries, please visit: https://wrbc.info/Licensing/License.htm